Guideline Value for Vasugi Nagar 4th Street

Vasugi Nagar 4th Street guideline value

The current guideline value of Vasugi Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, and it falls under Residential Class IV Type - I land classification.

How the guideline value of Vasugi Nagar 4th Street has changed

The guideline value for Vasugi Nagar 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. However, from 2017 to the 2023 revision, the value significantly increased by 49% to reach Rs 2,000 per sq.ft. The latest 2024 revision has further increased the value by 10%, bringing it to Rs 2,200 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 22%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, making the 2024 guideline value of Vasugi Nagar 4th Street below this median.

• Vasugi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasugi Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Vasugi Nagar 4th Street?

The Vasugi Nagar 4th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To locate your nearest office, you can find your SRO.

How the guideline value is used when you buy or sell in Erukancherry

The guideline value is a crucial factor during property registration in Erukancherry, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the latest guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vasugi Nagar 4th Street?

The current guideline value of Vasugi Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 22% over this period.

Where can I find the registration office for Vasugi Nagar 4th Street?

The registration office for Vasugi Nagar 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

What is the median guideline value in Erukancherry?

The median guideline value in Erukancherry is Rs 2,500 per sq.ft, while Vasugi Nagar 4th Street's 2024 guideline value is below this median.